Section 37(1) – CSR Expenditure – Explanation (2) appended to section 37(1) by Finance Act, 2014 w.e.f. 1-4-2015 is applicable prospectively from AY 2015-16; therefore, CSR expenditure incurred by assessee on or before 31-3-2014 was to be allowed as deduction u/s 37(1).
Principal Commissioner of Income-tax v. Steel Authority of India Ltd. – [2023] 148 taxmann.com 132 (Delhi).